China Merchant Holdings Q3 profit down 20%

Singapore

CHINA Merchants Holdings (Pacific) has posted a 20 per cent fall in third-quarter net profit to HK$168.4 million (S$30.6 million) despite a 4 per cent increase in revenue.

The company said on Thursday that net profit fell because of lower profit contribution from toll road joint ventures, higher finance costs, higher exchange losses, and absence of negative goodwill.